36 - Water collection, treatment and distribution

1 - General information

2 - Income statement

	Average	%	Trend
Out of taxes turnover	M$ 2.0	100%	-60.6%
Purchases & stocks variance	M$ 0.0	-1%	+0.1 points
Gross margin	M$ 2.0	99%	-0.1 points
Operating expenses & revenues	M$ -1.0	-50%	-8.4 points
Taxes and subsidies	M$ 0.0	2%	+0.5 points
Value added at factor costs	M$ 0.9	45%	+9.4 points
Wages costs  (1 employee = K$ 37)	M$ -0.3	-17%	-5.3 points
Gross operating surplus	M$ 0.5	27%	+14.7 points
Depreciation and provisions	M$ -0.4	-18%	+11.3 points
Operating income	M$ 0.2	9%	+3.5 points
Financial incomes and costs	M$ 0.0	1%	-3.0 points
Earnings before taxes	M$ 0.2	8%	+0.5 points
Exceptional incomes and costs	M$ 0.0	1%	+0.0 points
Income tax	M$ 0.0	0%	+0.8 points
Net income	M$ 0.2	8%	-0.3 points
Self-financing capacity	M$ 0.5	25%	+11.2 points

3 - Balance sheet

Assets	Average	%	Liabilities	Average	%
Gross intangible assets	M$ 0.3	2%	Equity	M$ 9.5	76%
Of which goodwill	M$ 0.0	0%	Of which share capital	M$ 3.2	25%
Gross tangible assets	M$ 14.2	113%	Bank loans	M$ 1.5	12%
Of which lands	M$ 0.2	2%
Gross financial capital assets	M$ 1.4	11%
Depreciations	M$ -5.5	-44%
Net fixed assets	M$ 10.3	83%	Permanent capital	M$ 11.0	88%
Stocks	M$ 0.0	0%	Payables	M$ 0.2	2%
Receivables	M$ 1.3	11%	Other liabilities	M$ 1.3	10%
Cash	M$ 0.9	7%
Other assets	M$ -0.1	-1%
Current assets	M$ 2.2	17%	Short term debts	M$ 1.5	12%
total assets	M$ 12.5	100%	total liabilities	M$ 12.5	100%

4 - Cash

	Average	% Turnover
Stocks  (stock cover : 16 days)	M$ 0.0	2%
Receivables  (payment terms : 198 - 238 days)	M$ 1.3	66%
Other assets	M$ -0.1	-7%
Payables  (payment terms : 65 - 78 days)	M$ -0.2	-12%
Other liabilities	M$ -1.3	-63%
Net working capital (A)	M$ -0.3	-13%
Permanent capital	M$ 11.0	548%
Net fixed assets	M$ -10.3	-515%
Working capital (B)	M$ 0.7	33%
Cash (B - A)	M$ 0.9	46%

5 - Profitability analysis

1 - General information

2 - Income statement

	Average	%	Trend
Out of taxes turnover	M$ 4.1	100%	+9.8%
Purchases & stocks variance	M$ -0.2	-4%	+1.1 points
Gross margin	M$ 3.9	96%	-1.1 points
Operating expenses & revenues	M$ -1.6	-38%	-0.4 points
Taxes and subsidies	M$ 0.2	5%	-2.1 points
Value added at factor costs	M$ 2.1	50%	-1.9 points
Wages costs  (1 employee = K$ 36)	M$ -0.8	-20%	-1.5 points
Gross operating surplus	M$ 1.2	31%	-0.3 points
Depreciation and provisions	M$ -0.7	-18%	+2.1 points
Operating income	M$ 0.5	12%	-2.4 points
Financial incomes and costs	M$ 0.1	3%	+0.7 points
Earnings before taxes	M$ 0.4	10%	-1.7 points
Exceptional incomes and costs	M$ 0.1	3%	+1.6 points
Income tax	M$ 0.0	0%	+0.0 points
Net income	M$ 0.5	12%	-3.3 points
Self-financing capacity	M$ 1.1	28%	+1.0 points

3 - Balance sheet

Assets	Average	%	Liabilities	Average	%
Gross intangible assets	M$ 0.4	1%	Equity	M$ 26.9	82%
Of which goodwill	M$ 0.0	0%	Of which share capital	M$ 7.9	24%
Gross tangible assets	M$ 39.8	122%	Bank loans	M$ 3.8	12%
Of which lands	M$ 0.6	2%
Gross financial capital assets	M$ 0.2	0%
Depreciations	M$ -12.2	-37%
Net fixed assets	M$ 28.2	86%	Permanent capital	M$ 30.7	94%
Stocks	M$ 0.1	0%	Payables	M$ 0.4	1%
Receivables	M$ 2.1	7%	Other liabilities	M$ 1.6	5%
Cash	M$ 2.1	7%
Other assets	M$ 0.2	1%
Current assets	M$ 4.5	14%	Short term debts	M$ 2.0	6%
total assets	M$ 32.7	100%	total liabilities	M$ 32.7	100%

4 - Cash

	Average	% Turnover
Stocks  (stock cover : 13 days)	M$ 0.1	2%
Receivables  (payment terms : 157 - 188 days)	M$ 2.1	52%
Other assets	M$ 0.2	4%
Payables  (payment terms : 66 - 79 days)	M$ -0.4	-10%
Other liabilities	M$ -1.6	-39%
Net working capital (A)	M$ 0.4	10%
Permanent capital	M$ 30.7	753%
Net fixed assets	M$ -28.2	-691%
Working capital (B)	M$ 2.5	62%
Cash (B - A)	M$ 2.1	53%

5 - Profitability analysis

1 - General information

2 - Income statement

	Average	%	Trend
Out of taxes turnover	M$ 251	100%	-70.3%
Purchases & stocks variance	M$ -1	0%	-0.7 points
Gross margin	M$ 250	100%	+0.7 points
Operating expenses & revenues	M$ -147	-59%	-3.1 points
Taxes and subsidies	M$ 3	1%	+1.4 points
Value added at factor costs	M$ 96	38%	+6.3 points
Wages costs  (1 employee = K$ 48)	M$ -44	-18%	-5.6 points
Gross operating surplus	M$ 52	21%	+12.0 points
Depreciation and provisions	M$ -37	-15%	+10.1 points
Operating income	M$ 15	6%	+1.8 points
Financial incomes and costs	M$ 1	0%	-2.7 points
Earnings before taxes	M$ 14	6%	-0.9 points
Exceptional incomes and costs	M$ -4	-2%	+1.6 points
Income tax	M$ 0	0%	+0.8 points
Net income	M$ 10	4%	-3.4 points
Self-financing capacity	M$ 0	0%	+0.0 points

3 - Balance sheet

Assets	Average	%	Liabilities	Average	%
Gross intangible assets	$ 0	0%	Equity	$ 0	0%
Of which goodwill	$ 0	0%	Of which share capital	$ 0	0%
Gross tangible assets	$ 0	0%	Bank loans	$ 0	0%
Of which lands	$ 0	0%
Gross financial capital assets	$ 0	0%
Depreciations	$ 0	0%
Net fixed assets	$ 0	0%	Permanent capital	$ 0	0%
Stocks	$ 0	0%	Payables	$ 0	0%
Receivables	$ 0	0%	Other liabilities	$ 0	0%
Cash	$ 0	0%
Other assets	$ 0	0%
Current assets	$ 0	0%	Short term debts	$ 0	0%
total assets	$ 0	0%	total liabilities	$ 0	0%

4 - Cash

	Average	% Turnover
Stocks  (stock cover : 0 days)	$ 0	0%
Receivables  (payment terms : 0 - 0 days)	$ 0	0%
Other assets	$ 0	0%
Payables  (payment terms : 0 - 0 days)	$ 0	0%
Other liabilities	$ 0	0%
Net working capital (A)	$ 0	0%
Permanent capital	$ 0	0%
Net fixed assets	$ 0	0%
Working capital (B)	$ 0	0%
Cash (B - A)	$ 0	0%

5 - Profitability analysis